Builders FirstSource price target lowered to $152 from $188 at RBC Capital

RBC Capital lowered the firm’s price target on Builders FirstSource to $152 from $188 after its Q3 results and guidance cut but keeps an Outperform rating on the shares. The company’s outlook for housing starts and commodity prices in the higher ends of the ranges look overly optimistic, and the firm sees the low-end scenario as providing the best starting point for FY24, the analyst tells investors in a research note.